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Starbucks 820 W Main St

2,010 SF Retail Building Norman, OK 73069 $2,656,057 CAD ($1,321 CAD/SF) 5.25% Cap Rate

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Investment Highlights

Rare opportunity to acquire a Starbucks NNN lease with 13 years of term remaining
Starbucks, which opened this drive-thru store in 2006, has already demonstrated commitment to this location and exercised two future renewal options
One mile from the University of Oklahoma, which is ”designated by the Carnegie Foundation as a Highest Research Activity institution

NNN lease backed by an exceptionally strong corporate tenant: Starbucks, a BBB+ rated, Fortune 200 company with consistent revenue growth
Excellent retail location along a main thoroughfare with traffic volume over 23,000 VPD and directly across from Norman High School (2,100+ students)
A second contiguous parcel, included in the sale, offers a parking lot to accommodate additional customers

Executive Summary

Marcus & Millichap is pleased to present to market the NNN-leased Starbucks drive-thru located at 820 West Main Street in Norman, Oklahoma, home to the University of Oklahoma, one of the nation’s leading research universities. The offering also includes the adjacent parking lot at 906 West Main Street. With 13 years of lease term remaining, three additional renewal options, and scheduled rent increases, this is an excellent opportunity to acquire a strong corporate-backed NNN-leased asset.
Oklahoma Broker of Record: Tim Speck Lic #: 149994

Starbucks Norman, OK OM

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Restaurant

Building Size

2,010 SF

Building Class

Year Built

2006

Price

$2,656,057 CAD

Price Per SF

$1,321 CAD

Cap Rate

5.25%

NOI

$139,364 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.12

Land Acres

0.37 AC

Zoning

commercial

Frontage

115 ft on Main St

Accommodation and Food Services
99,999 SF
$9.99
Lorem Ipsum
Jan 0000

Starbuck's story begins in 1971 along the cobblestone streets of Seattle’s historic Pike Place Market. It was here where Starbucks opened its first store, offering fresh-roasted coffee beans, tea and spices from around the world for their customers to take home. Their name was inspired by the classic tale, “Moby-Dick,” evoking the seafaring tradition of the early coffee traders. Starbucks would soon expand to Chicago and Vancouver, Canada and then on to California, Washington, D.C. and New York. By 1996, they would cross the Pacific to open their first store in Japan, followed by Europe in 1998 and China in 1999. Over the next two decades, they would grow to welcome millions of customers each week and become a part of the fabric of tens of thousands of neighborhoods all around the world. In everything they do, they are always dedicated to Their Mission: With every cup, with every conversation, with every community - they nurture the limitless possibilities of human connection.